Anna deposited $6,155 today in a guaranteed investment account with a promised rate of 11.9%...

70.2K

Verified Solution

Question

Accounting

Anna deposited $6,155 today in a guaranteed investment account with a promised rate of 11.9% compounded annually. She plans to leave it there for 7 full years. How much money will she have in her account in 7 years?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students